Why Rent To Own A Minneapolis - St. Paul Home?
There are a lot of benefits of a rent to own agreement on your next Minneapolis - St. Paul home!
In the Minneapolis - St. Paul area, lots of smart people are using rent to own agreements as a way to get the home of their dreams without having to qualify for a bank loan right away.
In the past few years, banks have been very tight on their lending criteria. Most people who use a rent to own agreement want a few years to get ready to qualify.
Here are a few more reasons to use a rent-to-own agreement:
- Try before you buy! You get to live in your rented home before you actually purchase it, allowing you to make sure it’s actually your dream home. If you don’t like the house, you don’t have to complete the purchase.
- Own without great credit or a big down payment. You can start feeling like a homeowner right away while saving up and improving your credit.
- Privacy. You’re not listed as the purchaser on any public records until the closing takes place, giving you years of privacy.
- Profit from home appreciation right away. Often, homes in Minneapolis - St. Paul are worth more on the day of the purchase than the price that you’re paying! This can be huge money.
- Move in fast. Since you don’t have to wait for a mortgage, you can often move in right away – and get started living a new life in the home of your dreams!
- No need to move twice! You are renting the home you plan on buying, so you don’t have to worry about the pain of moving again!
- Your Option Fee can count towards your down payment at time of financing! We work with specialized mortgage teams who understand how Rent to Own’s work and most of the time your Option Fee is credited towards your down payment.
- Stop wasting all your money on rent! As long as you execute your option to purchase the home on time, part of your monthly payments will be credited to helping you pay your closings costs at time of financing! This means more of YOUR money coming back to YOU!
So don’t wait!